Greece Debt Crisis: #ThisIsACoup vs #Greekment

The #ThisIsACoup hashtag has been trending across the world over the latest Greek talks. After a 17 hours all-night summit, Europe’s leaders have unanimously reached an agreement “with serious reforms and financial support” for Greece.

A new bailout for the already twice-bailed-out country

The details of the deal are still filtering out, but the buildup to the decision on Sunday was filled with trending hashtags on Twitter: #ThisIsACoup and #TsiprasLeaveEUSummit.

Those hashtags have been succeeded by #Greekment which is the number one Twitter trend in Greece right now, following the announcement of an “a-Greek-ment” by President of the European Council Donald Tusk.

Greece Debt Crisis -

Grexit no more?

The threat of “Grexit” — Greece exiting the Euro currency —, which experts believe would have ravaged the country’s already crumpling economy, appears to have been avoided.

Yet, #ThisIsACoup denounces the tough austerity measures including public administration, tax and pension reforms that will have to get through Athens parliament in the next couple of days.

The origins of #ThisIsACoup

Born in Barcelona, the hashtag #ThisIsACoup quickly shot to the top of trending lists around the world on Sunday, including Greece, France and Germany.

Those behind it have published a declaration stating that #ThisIsACoup “may have started in Barcelona, but it resonated around the world because it expressed a common sense of impotence of citizens in the face of globalised financial powers,” the Guardian reported.

“The scandalous Eurogroup proposals yesterday made last night the ideal moment to create a hashtag to express and, above all, coordinate, our outrage at the extortion the Greek government and its people were being subject to,” the statement continued.

Twitter users express their rage

#ThisIsACoup hashtag voiced people’s anger at Germany and Europe as a whole, for its demands on Greece.

In the past day, 361,661 tweets have used the hashtag, according to social media analytics site Topsy.

Greece Debt Crisis: #ThisIsACoup vs #Greekment - Clapway

“Birthplace of democracy, to deathbed of democracy. Now arise, zombie creditocracy #ThisIsACoup,” opined a tweet by Brett Scott, author of The Heretic’s Guide to Global Finance: Hacking the Future of Money.

“Germany just destroyed another European nation out of pique while the others just watched. Unbelievable. #ThisIsACoup,” Tweeted @GarySegura, Professor at Stanford University, adding a link to Nobel-winning economist Paul Krugman’s blog for The New York Times, controversially titled “Killing the European Project”.

Krugman’s position

A very harsh commentary by Krugman reads: “The trending hashtag #ThisIsACoup is exactly right. This goes beyond harsh into pure vindictiveness, complete destruction of national sovereignty, and no hope of relief.”

He added that the Eurogroup list of demands is “madness” and that “it is, presumably, meant to be an offer Greece can’t accept; but even so, it’s a grotesque betrayal of everything the European project was supposed to stand for”.


But how many of those who oppose the EU-Greek deal came up with an alternative, sustainable proposal on how to break the deadlock?

#Greekment now appears to be trending instead.

“Let us begin now our long, hard but necessary journey to build a new western state that will stand firmly on its feet. #Greekment,” Spyros Litsas tweeted.

Some commentators critical of #ThisIsACoup said that “this is not a coup. Anyone who thinks it is should grow up and join the real world”.

Greece debt crisis: what do you make of it?


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